Tampa, Florida -- A settlement has been reached between the Graziano family and wrestler Hulk Hogan and his son.

Hogan, whose real name is Terry Bollea, was being sued because of a 2007 car crash involving his son Nick and his friend, John Graziano. Graziano was seriously injured in the accident and continues to need round-the-clock health care.

At a press conference in Tampa today, attorneys announced a settlement had been reached between Graziano and Terry and Nick Bollea. A judge approved the settlement, thereby averting a trial that was set to begin on March 1. The settlement amount is confidential.

Attorneys said Graziano's mother Debbie is pleased with the settlement, and the family's goal is to make sure her son gets care for the rest of his life. All of the money goes to John -- no other family members will benefit.

John Graziano lives in a semi-conscious state at home with his mother in Pinellas County. Hulk Hogan's wife, Linda Bollea, settled with the Graziano family in January.